King Protocol (formerly LRT²) has successfully closed a strategic funding round with backing from some of the most influential figures in the DeFi and crypto industry. The round includes support from key industry leaders such as Arthur Hayes, Justin Sun, Marc Zeller, as well as prominent DeFi projects and entities like EtherFi, Kelp, EigenPie, Swell, and many others. This strong backing highlights the confidence that the broader DeFi ecosystem has in King Protocol’s vision and its potential to redefine the distribution of multi-asset rewards.
So far, King Protocol has secured partnerships with over 75% of the Ethereum Liquid Restaking market, positioning itself as a critical player in the evolving landscape of restaking. The protocol aims to unify and standardize the multi-asset rewards distribution process, making it more efficient and user-friendly.
The mechanism of King Protocol is straightforward yet highly innovative. Protocols, including Liquid Restaking Tokens (LRTs), deposit tranches of whitelisted rewards into the King Protocol vault. In return, they receive a corresponding amount of KING tokens based on the total value of their deposits. This simplifies the often complex and fragmented process of reward distribution, ensuring a seamless experience for users. Instead of manually claiming multiple rewards in fractional amounts—often incurring high gas fees—users can now claim KING, a unified token representing a proportional share of the reward basket. For those who prefer, KING tokens can always be redeemed for the underlying assets, enabling flexibility and confidence.
Joe Bjornsen, CEO of King Protocol, emphasized the project’s long-term vision: “We will first solidify KING as the restaking reward standard on Ethereum, then rapidly expand to any network and sector offering multi-asset yield. This includes everything from Bitcoin and Solana restaking to structured products that distribute yield through multiple assets. Our vision is to simplify and streamline rewards in the emerging, multi-billion-dollar market of economic security through restaking.”
King Protocol is built and managed by a team with deep expertise across DeFi operations, token economics, risk management, and smart contract development. The project is primarily powered by AlphaGrowth, the leading DeFi operations and growth firm, which brings extensive experience in scaling innovative blockchain projects.
At its core, King Protocol’s main objective is to establish KING as the industry standard for restaking rewards. However, its ambitions extend far beyond that. The next step in King Protocol’s roadmap involves expanding the DeFi utility of KING, beginning with the development of deep liquidity pools to ensure seamless trading. Following this, the protocol aims to integrate KING into money markets, perpetual exchanges, collateralized debt positions (CDPs), and other key DeFi primitives. This will significantly enhance the token’s utility and adoption across the decentralized finance landscape.
A major milestone in the project’s development is its transition into a fully DAO-governed system. This governance structure will empower the King Protocol community to actively participate in decision-making processes, ensuring a decentralized and transparent approach to protocol upgrades and ecosystem expansion. Additionally, this transition will enable revenue generated within the ecosystem to be distributed to token holders, further incentivizing participation and long-term alignment with the project.
King Protocol is on a mission to revolutionize how multi-asset rewards are managed and distributed across DeFi. By simplifying the process and creating a unified reward standard, the project is set to play a pivotal role in the growth and maturation of the liquid restaking market and beyond.
To dive deeper into King Protocol’s vision, technology, and upcoming developments, check out their documentation, join the community on Discord, and follow King Protocol on X for the latest updates.
